Long-term debt

12 Months Ended

Dec. 31, 2022

Our long-term debt is summarized below (in thousands):


	Dec. 31,
	2022		2021
Borrowings under revolving credit facility expiring August 2024	$	—	$	166,000

Unsecured notes bearing fixed rate interest at 4.75% due March 2026	550,000		550,000
Unsecured notes bearing fixed rate interest at 7.75% due June 2027	200,000		200,000
Unsecured notes bearing fixed rate interest at 7.25% due September 2027	240,000		240,000
Unsecured notes bearing fixed rate interest at 4.625% due March 2028	1,000,000		1,000,000
Unsecured notes bearing fixed rate interest at 5.00% due September 2029	1,100,000		1,100,000
Total principal long-term debt	3,090,000		3,256,000
Debt issuance costs	(26,911)		(31,378)
Unamortized premiums and discounts, net	6,227		7,348
Total long-term debt	$	3,069,316	$	3,231,970

As of December 31, 2022, we had unused borrowing capacity of $1.49 billion under our $1.51 billion revolving credit facility, which expires in August 2024. As of December 31, 2022, we were in compliance with all covenants contained in our debt agreements and credit facility, including the leverage ratio (our one financial covenant) contained in our debt agreements and revolving credit facility. We believe, based on our current financial forecasts and trends, that we will remain compliant with all covenants for the foreseeable future.

Under our revolving credit facility we have the ability to draw loans based on two different interest rate indices, one of which is LIBOR based. We are able to draw LIBOR-based loans based on one month, three month, six month and twelve month durations originated through June 2023. We are working with our lenders to establish alternative interest rate measurements for periods subsequent to June 2023.

Our debt maturities may be repaid with cash flow from operating activities, accessing capital markets or a combination of both. The following schedule discloses annual maturities of the principal amount of total debt due (in thousands):


Repayment schedule of principal long-term debt as of Dec. 31, 2022
2023	$	—
2024	—
2025	—
2026	550,000
2027	440,000
Thereafter	2,100,000
Total	$	3,090,000